Atlanta-based Merit Financial Advisors announced today that it has acquired Planned Futures, based in Williamsport, Pennsylvania, in a merger.
Planned Futures benefits from $460 million in client assets and a presence in north-central Pennsylvania. Merit is now a hybrid RIA that manages $8.1 billion in client assets.
Led by James Arnold and John Keane Jr., Planned Futures provides investment management and retirement planning for state employees and high net worth clients. Keane and Arnold will join Merritt as Regional Directors and Partners, adding to a team of 10+ professionals.
“Expanding Merritt’s presence in Pennsylvania has been a focus for some time, and we are very pleased that James and John are taking on that responsibility,” said Merritt’s founder and CEO. ) said in a prepared statement. “Their team’s expertise, service offerings and culture are very aligned with our core values. We are incredibly in sync in almost every aspect.”
Planned Futures is Merritt’s 19th acquisition since its strategic investment from Wealth Partners Capital Group and Investor Group in December 2020. The merger also complements Merit’s acquisitions of TFG Wealth Management, INVEX Financial and Wealthplan, adding $424 million in assets and adding two new companies in Pennsylvania. We opened an office earlier this year.
The merger was completed on May 19th. Additional terms of the transaction were not disclosed.